The Daily Docket: Trustee Opposes AMR Plan

In this Nov. 29, 2011, file photo, a passenger walks through an American Airlines baggage claim area at O’Hare International Airport in Chicago.

The U.S. government’s bankruptcy watchdog is balking at the Chapter 11 plan of AMR Corp., the parent company of American Airlines, claiming the carrier’s proposed $19.9 million severance package for its chief executive isn’t allowed under the law. Read the Daily Bankruptcy Review article via The Wall Street Journal.

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France’s biggest auto maker Renault SA, is ending a partnership with Better Place LLC, an operator of electric-car charging stations that filed for bankruptcy and is shutting down, Bloomberg reports.

The Am Law Daily looks at how the falling rate of corporate bankruptcy filings is playing out.

According to WSJ, museum officials in Detroit oppose any forced sales of art to help pay off the city’s creditors.

Covenant-lite loans are soaring this year, the Financial Times (sub. req.) reports.

DealBook has more on the sale of a house in Long Island, N.Y., that belonged to Peter Madoff, Bernard Madoff’s brother.

About Bankruptcy Beat

From Dow Jones Daily Bankruptcy Review, exclusive coverage of corporate bankruptcies, companies headed for trouble and the latest trends in bankruptcy law, distressed investing and corporate restructuring. Lead writer Pat Fitzgerald and Daily Bankruptcy Review reporters in Washington, New York and Wilmington, Del., provide insight into the big cases, who’s next to fall and what’s making news across the bankruptcy market.